Naran Raises $10M to Expand Rent-to-Own Vehicle Financing Across Emerging Markets

Naran Raises $10 Million to Expand Mobility Financing

UAE-based mobility fintech Naran has secured $10 million in equity and debt financing from UAE investment firm Landel to expand its vehicle-financing platform across emerging markets.

The funding will support fleet growth in Colombia, Peru, Senegal, and Côte d’Ivoire, while helping Naran enter additional markets across the Middle East and North Africa.

The company also plans to develop new fintech products linked to its asset-backed mobility model.

Rent-to-Own Vehicle Financing

Founded in 2025 by former Yango executives Bayaskhalan Alexeev and Alexander Gubarev, Naran provides vehicle financing to ride-hailing and delivery drivers who may have difficulty accessing traditional bank loans because of irregular income or limited credit histories.

Its core model allows drivers to rent cars and motorcycles with a path toward ownership, with repayment periods ranging from 12 to 60 months.

Naran combines financing with vehicle procurement, delivery, servicing, insurance, GPS, and ongoing driver support.

Mobility Platforms and Fleet Operations

Naran purchases vehicles directly from manufacturers and works with mobility platforms including Yango and inDrive.

The company has developed an internal fleet management system covering driver onboarding, payment scheduling, vehicle utilization, telematics, and maintenance.

The platform is designed to help Naran manage vehicles and repayment performance across multiple markets.

Expanding Across Emerging Markets

Naran currently operates across Latin America and Africa and plans to launch in Paraguay in September 2026.

The company is targeting expansion across Colombia, Peru, Senegal, and Côte d’Ivoire, alongside future entry into additional MENA markets.

By 2030, Naran aims to operate in 10 countries with a fleet of 10,000 cars and 20,000 motorcycles, creating 30,000 income-generating opportunities.

Beyond Direct Vehicle Financing

Naran also plans to offer its fleet management technology to third-party fleet operators as software-as-a-service.

The company intends to provide asset-backed debt financing to help other fleet operators expand, potentially positioning Naran as both a mobility-financing provider and technology infrastructure platform.

Landel Investment

Landel invests in real assets and operating businesses, including mobility businesses in emerging markets.

The firm described Naran as an operational and scaling platform with more than 1,000 vehicles.

The new financing gives Naran additional capital to expand its vehicle fleet, enter new markets, and develop its broader financing and fleet technology platform.